PIMCO California Municipal Income Fund II (NYSE:PCK) Short Interest Update

PIMCO California Municipal Income Fund II (NYSE:PCK) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 16,000 shares, a decline of 28.9% from the October 15th total of 22,500 shares. Based on an average trading volume of 89,500 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund II

A number of institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC purchased a new position in PIMCO California Municipal Income Fund II during the first quarter valued at $74,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of PIMCO California Municipal Income Fund II by 4.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 488,249 shares of the closed-end fund’s stock worth $2,856,000 after acquiring an additional 22,982 shares in the last quarter. Almitas Capital LLC bought a new stake in PIMCO California Municipal Income Fund II in the second quarter worth $64,000. Advisors Asset Management Inc. increased its stake in PIMCO California Municipal Income Fund II by 11.8% in the first quarter. Advisors Asset Management Inc. now owns 866,798 shares of the closed-end fund’s stock worth $5,001,000 after purchasing an additional 91,721 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in shares of PIMCO California Municipal Income Fund II by 3.7% in the second quarter. Commonwealth Equity Services LLC now owns 62,422 shares of the closed-end fund’s stock valued at $365,000 after acquiring an additional 2,200 shares in the last quarter.

PIMCO California Municipal Income Fund II Stock Performance

Shares of PCK traded up $0.01 during mid-day trading on Thursday, hitting $5.93. The stock had a trading volume of 69,077 shares, compared to its average volume of 78,258. PIMCO California Municipal Income Fund II has a 52 week low of $5.42 and a 52 week high of $6.34. The business has a fifty day moving average price of $6.10 and a 200-day moving average price of $5.95.

PIMCO California Municipal Income Fund II Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.0215 per share. This represents a $0.26 annualized dividend and a yield of 4.35%. The ex-dividend date is Tuesday, November 12th.

PIMCO California Municipal Income Fund II Company Profile

PIMCO California Municipal Income Fund II is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets of United States. It seeks to invest in stocks of companies operating across diversified sectors.